All posts by Olga Lipnitskaya

September back to school / back to work month. It’s time to check what needs to be done at home and at work. We often might leave some documents for later, such as Annual Report with BC Registry. This form has to be filed each year for every Corporations. It could be done by Lawyers or Owners.

Public and private sector companies need more woman leaders. By providing choice, being open to innovative solutions, and proving greater flexibility in the workplace, balance of work and life can be supported. This will enable more woman to join the workforce and create a better work environment that places people first.

As personal taxes filed for 2018, it’s a good time to think of 2019 tax season and get ready for the next year personal tax filing. RRSP is one of the ways to invest in your retirement and optimize taxes. The notice of assessment will have RRSP deduction limit. Please make sure not to invest over RRSP limit, as that would result in additional tax on over-contributed amounts. Keep our contacts for the next tax season Olga@LCPA.ca / 604-719-5202 / www.LCPA.ca. #olgalipnitskaya #northshoreaccountant #northshoretax #taxincanada #vancouveraccountant #accountantinvancouver #filecorporatetax #filetax #tax #taxrefund #money #filebusinesstax #taxseason #cpa #taxtips #olgacpa #onlinebusiness #growyourbusiness #businessincanada #financiallyfit #supportbusiness #investment

Helping businesses and individuals to file their tax returns in 2019 tax season. Our office published a checklist to assist with collection of required tax slips and documents for accountants. Please use the link: http://lcpa.ca/tax-services-north-vancouver/

Rental income.
Income earned from renting out property would be rental income or business income depending on the duration of the rental and the types of services included in the rental agreement. Contact our Chartered Professional Accountant office in north shore to get more details.

More and more clients use Paypal and Square for their sales. It’s very convenient. However, recently CRA has requested Paypal to disclose details for Business Account holders. Please make sure Paypal Sales are correctly recorded in self-employed tax returns and corporate tax returns.

New starting 2016: if you sold your principal residence, you have to report the sale on Schedule 3 and Form T2091. You do not have to pay tax on any gain from the sale because of the principal residence exemption. Change in usage from principal residence to rental or business is deemed disposition and has to be reported. There is a penalty for non reporting.